Category: Insurance Regulatory News

  The Florida Commission on Loss Projection Methodology (“FCHLPM”) advised today that the AIR Worldwide Atlantic Tropical Cyclone Model Version 15.0.2 as implemented in Touchstone Version 4.2.0 is acceptable under the FCHLPM’s 2013 Standards and is considered equivalent to the …

  The Florida Department of Financial Services’ Division of Investigative and Forensic Services (“DIFS”), which operates under the direction of Chief Financial Officer Jeff Atwater, announced the arrest of Julian Garcia-Sellek of Miami on multiple felony fraud and grand theft …

  After Two Hurricanes in 2016, a Dry Florida Faces a New Threat in 2017: Wildfires Florida was drenched by two hurricanes in 2016, yet it faces a completely different problem in 2017: an increased risk of wildfires this winter.  …

  Florida’s Citizens Property Insurance Corporation (“Citizens”) published the following information (reprinted below) in its regular agents’ bulletin today, December 21, 2016:   Depopulation: Policyholder Choice Citizens is changing the depopulation process for all personal lines assumptions, beginning with the …

  At the request of Florida Insurance Commissioner David Altmaier, the Federal Emergency Management Agency (“FEMA”) has granted another extension giving National Flood Insurance Program (“NFIP”) policyholders in Florida an extra 30 days (until January 31, 2017) to file claims …

  Demolition Possible for Some St. Augustine Homes Some homes in St. Augustine, Florida could be demolished because of damaged suffered during Hurricane Matthew, the Florida Times-Union reports via the PCI SmartBrief.   Florida Beaches See $77M in Hurricane Damage …

  Florida’s Courts 4th on Tort Reformers’ “Judicial Hellhole” List The controversial Florida Supreme Court and Civil Courts in South Florida find themselves dubiously honored in fourth position on the American Tort Reform Foundation’s 2016-2017 List of “Judicial Hellholes” — putting …

  Florida Ruling Against Insurer in Concurrent Loss Case “Not a Surprise” The Florida Supreme Court has ruled in favor of Policyholders seeking Coverage on Claims where there is the possibility of Multiple Concurrent Losses but at least one of …

  Court to hear appeal in State Farm Florida trade secret dispute An appeals court has scheduled oral arguments in a dispute between insurance regulators and State Farm Florida about disclosing information related to the company’s property-insurance policies.  THE NEWS …

  PCI Joins Campaign for Florida Assignment-Of-Benefits Reform The Property Casualty Insurers Association of America has thrown its weight behind the drive to control Assignment-of-Benefits Fraud against Insurance Companies.  Michael Moline reports for SaintPetersBlog.com.   Hurricane Matthew Victims Dealing With …